Chinese Economy Rises amid Inflations

Chinese Economy Rises amid Inflations

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Being world second largest economic market, China has noted a 9.6% rise on its economic growth rate by the end of the second quarter for the year 2011. Interestingly during this time the country has encountered interest rises and nationwide inflations. At this situation Chinese economy has been steadfast and resilient. With high international commodity prices and sharp national commodity price the country has battled the inflation rates with convincing results.

Chen Dongqi from National Development and Reform Commission stated that annual inflation will be around 4.5 percent which is contrary to the government’s target of 4 percent. Mr. Chen is a senior researcher for China’s Top Economic Agency. These statements were taken from China’s Securities Journal which was released last Wednesday. On the other hand many economic researchers and analyst believed that rising consumer prices could be prevented if China will make another 25% interest rates before the end of the third quarter.

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